On Saturday morning, Mr. Trump described his relationships with French President Emmanuel Macron, German Chancellor Angela Merkel and Mr. Trudeau as “a 10.”
President Trump upended two days of global economic diplomacy late Saturday, refusing to sign a joint statement with America’s allies, threatening to escalate his trade war on the country’s neighbors and deriding Canada’s prime minister as “very dishonest and weak.”
Literally moments after Mr. Trudeau’s government proudly released the joint statement, noting it had been agreed to by all seven countries, Mr. Trump blew apart the veneer of cordiality that had prevailed throughout the two days of meetings in a resort town on the banks of the St. Lawrence River.
Today the Wall Street Journal reports Trump Says U.S. Won’t Endorse G-7 Communique, Threatens Auto Tariffs.
The communique said the nations would “strive to reduce tariff barriers, nontariff barriers and subsidies.”
That statement was in line with my prediction earlier today: "The meeting was productive blah blah blah. We all agree on the need to reduce trade barriers blah blah."
However, there was much more blah blah blah than I expected.
A copy of the eight-page communique, obtained by The Wall Street Journal, states that leaders share a commitment to promoting a “rules-based international order.” Under a section titled “Investing in Growth that Works for Everyone,” the statement underlines “the crucial role of a rules-based international trading system and continue to fight protectionism.”
That is really quite an amazing video given what happened moments later.
Mike "Mish" Shedlock